Johnny Rock's $100,000 Challenge

His setup:

https://www.elitetrader.com/et/thre...lf-for-trading-preferably-15-inch-max.359280/

My setup:

Screenshot_20210606-184707.png


As weird as this may sound, I actually like the IBKR app over TWS. Easily, with just a swipe, I can change the candle sizes, get a birds eye view and zoom in to get a clear picture. I also like the ability to go from a 15' chart to the hourly, 4 hr, daily or weekly.

I would much rather have his setup!

However, me and the laptop are not as compatible as me and cricket.
 
  • Lifted from another ET thread
  • Great video
Sometimes it may look like an uptrend/downtrend on a lower timeframe but if you look at a higher timeframe it's a different story.

Someone else daytrading might ask, does it make sense to look at anything beyond the 1 or 5 minute, but the 15 minute might show a different pattern. It might look like an uptrend on the 5 minute, but the 15 minute might show a clear downtrend. Or vice versa. Or that it could go either way still.

I think it's always a good idea to review at least the daily first, maybe even weekly. Understand possible support and resistance areas, your possible exit point. Then get a precise entry with a lower timeframe.

It kind of depends on how long you want to be in the trade for too.

But be looking at multiple timeframes at the same time.

Have a look here for an example:

 
  • Lifted from another ET thread
  • Great video


I tuned in for 20 seconds...

So yeah, the absolute best way to stay out of a bad trade is not to get into one in the first place!

Reality is, you will, guaranteed, end up in a trade that goes against you. How you handle THAT situation, is where the rubber meets the road.

Welcome back johnny.

 
I tuned in for 20 seconds...

So yeah, the absolute best way to stay out of a bad trade is not to get into one in the first place!

Reality is, you will, guaranteed, end up in a trade that goes against you. How you handle THAT situation, is where the rubber meets the road.

Welcome back johnny.

That's actually some Socrates level stuff right there. Each of my blowups was directly caused by my inability to handle an over leveraged trade going against me.
 
Dummy Trading Meme Stocks:
  1. I don't know how viable this actually is.
  2. I would think it meets the criteria outlined in the original system.
  3. The only change I would make is not necessarily playing gaps.
  4. If an impulse moves the stock significantly, I would take the trade.
  5. This is just a test.
https://www.twitch.tv/g_anon/v/1050159658?sr=a&t=11s

To save time:
  • Here is the chart.
  • Find Dummy Trading in the way back machine.
  • Also check these meme stocks on Reddit with the system at traders.blogspot.com
  • Check the other meme stocks too
  • I picked this one because it was on the front page of CNBC
Screenshot_20210608-180622.png
 
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